In order to start the process for filing for bankruptcy, the first thing you must do is gather up all of your financial records, basically putting together an inventory of everything you own and everything that you owe. In particular, you will need: A list of all of your assets, such as your house, car(s), household stuff, […]
Don’t underestimate the power of bankruptcy’s automatic stay. That’s the federal law that stops your creditors from pursuing you, your money, and your possessions at the moment your case is filed. In a couple of my recent blogs, I told you about the relatively rare situations in which the automatic stay does not apply—situations in […]
That all depends on whether your case is filed under Chapter 7 or Chapter 13. Assuming that you’ve provided your attorney with all of the information needed to get the case filed, for a Chapter 7 case, you should figure that it will take about four to five months until you get your discharge. For […]
In VERY RARE circumstances, ALL of your creditors can pursue you EVEN if you file for bankruptcy. Here’s how to avoid these rare but serious circumstances. In my last blog I listed three special classes of debts for which you can still be pursued even though you filed for bankruptcy. They are exceptions to the […]
According to the S&P/Case-Shiller Home Price Indices, home prices are going up all over the country. Do these increases signal that we’ve reached bottom and are heading into a period of sustained price increases? In my last blog I said that S&P/Case-Shiller 20-metro composite index had risen for the last three reported months in a […]
Home prices are edging up. At least according to the latest monthly S&P/Case-Shiller Home Price Index released in late August. It shows that home prices went up in every single one of the 20 metropolitan areas included in this index. I’ll look more closely at these price increases and tell you about them in my […]
The amount of property you get to keep in a bankruptcy is the result of a 200-year-old Constitutional battle of states’ right versus federal power. The Bankruptcy Code provides for a uniform federal set of property exemptions, but if you live in one of 35 states, including Colorado, you probably cannot use those exemptions. Instead you’re […]
Not everyone who wants to file a Chapter 7 “straight bankruptcy” can do so. But most can. There’s probably no topic that causes more confusion to people thinking about filing bankruptcy –do they qualify? Let me set the record straight. 1. Inaccurate publicity: Many people think it’s difficult to qualify for filing bankruptcy because of […]
Picking the right Chapter to use to file your bankruptcy case can be simple or very, very difficult. And appearances can be deceiving. First take a look at this video I recorded about the basic differences between Chapter 7 and Chapter 13. A situation that seems at first to call for an obvious choice can turn […]
Usually not. But sometimes the indirect consequences can be huge. Considering what’s at stake, if you are either a legal or illegal immigrant and are thinking about filing bankruptcy, this is definitely an area where you need the advice of both a bankruptcy attorney and an immigration attorney. It’s my job to give my clients […]
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